GOLD Elliott Wave Technical Analysis – 24th April, 2017

A correction was expected to continue for another one to few days. Today’s red candlestick with a long lower wick mostly fits that expectation. Price remains above the invalidation point but the wave count no longer has the right look, so today it is changed....

GOLD Elliott Wave Technical Analysis – 30th March, 2017

Downwards movement continued for Thursday as expected. Price is now below the lower edge of the base channel on the hourly chart. Summary: A pullback to about 1,230 may continue. The target may be reached now in another 3 days time. Volume and On Balance Volume today...

GOLD Elliott Wave Technical Analysis – 25th January, 2017

A breach of the trend channel and a new low below 1,195.82 invalidated the main Elliott wave count and confirmed the alternate. Summary: A deeper pullback looks very likely to have begun. Short positions should be watched carefully because this may be a choppy...

GOLD Elliott Wave Technical Analysis – 23rd January, 2017

A small upwards day has made a slight new high. Both Elliott wave counts remain the same. Summary: The bottom line is still that it must be accepted there is no indication yet of an end to this upwards wave while Gold remains within the channel and above the...

GOLD Elliott Wave Technical Analysis – 14th December, 2016

Again, upwards movement was expected to complete a small consolidation before price fell further. The consolidation was already complete and price has made a new low. Summary: The target for downwards movement to be interrupted is at 1,115. A break above the yellow...

GOLD Elliott Wave Technical Analysis – 1st December, 2016

Another new low for Gold was not expected. Summary: Weakness from ATR, extreme oversold conditions for RSI and Stochastics, and now divergence with price and RSI at today’s low all strongly indicate a reversal either here or very soon. A new high above 1,181.36...

GOLD Elliott Wave Technical Analysis – 24th October, 2016

An outside day closes with a red candlestick, which slightly favours the main Elliott wave count. Both Elliott wave counts remain viable while price remains within the consolidation / invalidation points. Summary: A new low below 1,247.67 would confirm the main wave...

GOLD Elliott Wave Technical Analysis – 16th September, 2016

Upwards movement was expected for Friday’s session but did not happen. Price remains above the invalidation point on the daily chart, which is where final risk remains. Summary: Divergence between the last two swing lows for price and RSI indicate bears are...

GOLD Elliott Wave Technical Analysis – 8th September, 2016

A little downwards movement was expected to end about 1,338. Price has moved lower to reach 1,335.89 so far. Summary: Look out now for surprises to the upside. In the short term, a little more downwards movement to 1,333 – 1,330 is expected before price turns up...